Oak Forest Investment
For Sale
Contact for pricing
Pending
4815 155th St, Oak Forest, IL 60452
Profitable strip center anchored by a historic day care.
Property Size5,000 SF
Days on Market157
Property Features for 4815 155th St
General Information
Standard status
Pending
Size
5,000 SF
Property subtype
Retail
Zoning
C3
Net Operating Income
$72,745
Building Details
Year Built
1976
Stories
1
Units
5
Listing Agency:
SVN Chicago Commercial
(708) 267-9988
Listed By:
Derek Gonsch · License #IL 475.192105
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Chicago Commercial
Investment Insights
Based on property information with market context.
This commercial property is located in Oak Forest, IL, near the stoplight intersection and just off the main road. The property is a strip center anchored by a historic day care center and houses other popular destination tenants. It offers businesses the opportunity to take advantage of the high-traffic area, while also having privacy and ease of operation. The building is of brick and concrete construction with a flat vinyl roof. The parking lot and building have been well-maintained, with upgrades completed in the last 5 years. The property has two egress points and an outdoor play area for the day care. The property size is 5000 square feet. The property is suitable for shopping centers, retail properties and spaces, day care centers, specialty properties, and general commercial real estate. The property is located one block west of the intersection of 155th St and Cicero Ave, on the north side of the street.
Key Highlights
- Anchored by a historic day care center, providing a stable tenant base.
- Located in business‑friendly Oak Forest, IL.
- High traffic location near a stoplight intersection and just off the main road.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,401
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,388,020
$1.4M
Cap Rate 7%
$991,443
$991.4K
Cap Rate 9%
$771,122
$771.1K
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$108.0K $21.60/SF
− Vacancy
−$8.9K −$1.77/SF
EGI
$99.1K $19.83/SF
− OpEx
−$29.7K −$5.95/SF
NOI
$69.4K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,388,020
Cap Rate 7%
$991,443
Cap Rate 9%
$771,122
Alternative Uses
Best Use
Retail
$991.4K
$867.5K – $1.16M
NOI $69,401 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,839 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
23k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 48%
Beggars Pizza
Dining
11,202 visits/mo
0.2 miles
Dollar General
Shops & Services
6,932 visits/mo
0.5 miles
Fifth Third Bank & ATM
Shops & Services
2,772 visits/mo
0.1 miles
Marathon
Shops & Services
2,293 visits/mo
0.5 miles
Demographics for 60452, IL
27,363
Population
10,557
Households
2.6
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
8.6 sq mi
ZIP Area
3,182
Density / Sq Mi
$89,167
Median Household Income
$47,519
Median Earnings
$1,287
Median Rent
$249,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Oak Forest Shopping Center — 5209 159th St, Oak Forest, IL 60452
Frequently Asked Questions
What type of property is this?
Shopping center - Profitable strip center anchored by a historic day care.
Where is this shopping center located?
The property is located at 4815 155th St Oak Forest, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Anchored by a historic day care center, providing a stable tenant base.; Located in business‑friendly Oak Forest, IL.; High traffic location near a stoplight intersection and just off the main road.
